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Aug 19 - 11:55 PM

AUD/USD - Weak Early But Recovers Into The Afternoon

By John Noonan  —  Aug 19 - 11:30 PM
  • AUD/USD opened 0.9% lower at 0.7185 and completed a bearish outside day

  • USD broadly strengthened before Fed Minutes then kicked higher after nL1N2FL1AK

  • AUD/USD stayed under pressure early Asia and traded down to 0.7165

  • The move lower coincided with S&P futures falling over 0.65%

  • Buyers returned and the AUD/USD is back at 0.7185 into the afternoon

  • A close below the 21-day MA at 0.7167 warns of deeper correction

  • Sellers tipped between 0.7200/10 and break above would ease downward prssure

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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